Brazil's stock market regulator, the Comissão de Valores Mobiliários (CVM), has approved the tender offer by Partícipes en Brasil - controlled by Abertis (51%) and the Brookfield Brazil Motorways Holdings fund (49%) - for the shares it does not hold in Arteris (30.7% of the total).

The tender offer, which was announced on 1 May 2015, was subject to various conditions and also to approval by the stock market regulators. Having satisfied all requirements, the offer will come into effect on 17 May under the conditions set out in the prospectus presented last year.

Partícipes en Brasil will pay US$ 2.85 per outstanding share, adjusted by dividend payments. The tender offer is conditioned to the acceptance by two thirds of the shares identified in the prospectus. In this case, Arteris’ shares will be delisted from the Brazilian stock market in a period of around 45 days after the tender offer liquidation.

Arteris is one of Brazil's largest toll road concessionaires, with 3,250 kilometres under management. Through nine concessionaires, the company manages toll roads in the states of São Paulo, Minas Gerais, Rio de Janeiro, Santa Catarina and Paraná.